Wage Revision Talks Fail, Bank Unions Threaten Strike

In a statement issued in Chennai, D.T. Franco, General Secretary, All India Bank Officers' Confederation (AIBOC) said, "The initial offer of the Indian Banks Association was meager which was totally rejected by the constituents of the United Forum of Bank Unions.

Chennai: Wage revision talks between Indian Banks' Association and the United Forum of Bank Unions (UFBU) failed on Saturday in Mumbai as the offer by the former was meagre, said a leader of a bank union.

He also said the unions may resort to agitation including strikes.

The UFBU is the umbrella body of bank unions in the country.

In a statement issued in Chennai, D.T. Franco, General Secretary, All India Bank Officers' Confederation (AIBOC) said, "The initial offer of the Indian Banks Association was meager which was totally rejected by the constituents of the United Forum of Bank Unions.

"Bank employees and officers are already paid very low compared with the Government employees as well as the private sector," he said.

Wages for bank employees have to be revised from November 1, 2017, he said.

According to Franco, the UFBU has decided to send a detailed communication to the Government immediately followed by a nationwide demonstration on May 9.

"It was also decided that Unions will go for two days strike if the government/IBA does not respond immediately," he said.